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The South Korean government has unveiled a plan to inject billions of dollars into the private and public sector.
The move is part of its 85-billion U.S. dollar investment plan to help the South Korean economy recover from the impact of COVID-19.
Yoon Jung-min reports.
South Korea aims to create more jobs through faster investment in private companies in the latter half of this year.
Finance Minister Hong Nam-ki said Thursday that as well as its 51 billion-dollar planned investment in the public sector, the government will create investment projects in the second half of the year to inject around 4-point-9 billion U.S. dollars into private businesses.
The finance minister also unveiled a plan to increase investment for non-contact industries and biotech industries by over 1-point-8 billion dollars.
The government said that as part of plans to create 150-thousand private sector jobs, it will create 50-thousand jobs in the digital sector for young job-seekers, and another 50-thousand jobs at small- and mid-sized firms.
It will launch these projects no later than July.
Regarding the job status for May announced Wednesday,... Hong said the government is aware of the poor job situation, but said it's getting better.
"Jobs numbers have been falling for three consecutive months, but the employment shock is getting better with a relatively smaller decline of 390-thousand jobs. We will do more based on our job retention policy and job creation policy."
In addition, the government plans to revise rules on corporate venture capital.
And the finance minister said the government is mulling over buying up corporate assets to help companies struggling from the liquidity crunch.
Yoon Jung-min, Arirang News.
